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Market Commentary 31 August 2017

INDUSTRIALSThe Industrial Index registered a new all time high post dollarization  having surpassed 233.18 points set on 01 August 2013 to close at 235.03 points after putting on 3.01 points (1.3...

By zse | Published: 31 August 2017

TELECOMS & TECHNOLOGY

Icasa, Cell C at war over recapitalisation

Earlier this month Cell C and Blue Label Telecoms concluded a recapitalisation of the network operator that was two years in the making, htxt reported.But now the Independent Communications Authority ...

By Staff reporter | Published: 31 August 2017

TELECOMS & TECHNOLOGY

Cell C responds to ICASA

We refer to the Media Release issued by ICASA on 30 August 2017 regarding the transaction for the recapitalisation of Cell C.Cell C is in the process of submitting extensive information to ICASA and i...

By Cell C | Published: 31 August 2017

TELECOMS & TECHNOLOGY

ICASA raises red flags on Cell C deal

The Independent Communications Authority of South Africa (ICASA) hereby confirms that it has received a notification from Cell C (Pty) Ltd (Cell C) regarding the change of licensee information i.e. ch...

By ICASA | Published: 31 August 2017

MINING & RETAIL

Edgars hit by foreign payment delays

CLOTHING retailer, Edgars Zimbabwe (Edgars), says it now owes international suppliers close to $2 million due to the country's foreign payment delays.The group's chain director, Vusa Mpofu, said Edgar...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

New Beitbridge coal mine to create 250 jobs

A NEW coal mine is set to open in Beitbridge district in the next few weeks creating 250 jobs.The company's director Mr Tinashe Kamuriwo said 70 percent of the employees would be locals from the distr...

By Staff reporter | Published: 31 August 2017

INDUSTRIALS & ENERGY

'Adhere to quality standards'

INDUSTRY and Commerce Deputy Minister Chiratidzo Mabuwa has challenged manufacturing companies to ensure their products adhere to quality standards set by regulatory bodies.Speaking during the Bulaway...

By Staff reporter | Published: 31 August 2017

OPINION

Zimra must walk the talk on porous ports

Corruption at the country's ports of entry has become a cancer that authorities appear not to have any viable solution for in sight.As a result of the porosity of structures and systems at borders, m...

By Staff reporter | Published: 31 August 2017

LANDS & AGRICULTURE

Zim to introduce 12 tobacco varieties

ZIMBABWE plans to unveil at least 12 new pest and disease resistant tobacco varieties by end of next year as part of efforts to improve productivity, the Tobacco Research Board has said.Ongoing resear...

By Staff reporter | Published: 31 August 2017

INDUSTRIALS & ENERGY

Ziscosteel, Chinese firm agreement will not collapse

THE Government has given assurance that the $1 billion Zisco/R and F Company resuscitation deal will not collapse as due diligence procedures were done before the winning bidder was selected.Industry ...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zimbabwe to get normal rains

ZIMBABWE is expected to receive normal rains during the 2017/18 season, with southern parts of the country expected to receive normal to below normal rains, a detailed local forecast from the Meteorol...

By Staff reporter | Published: 31 August 2017

LANDS & AGRICULTURE

More farmers to grow tobacco

Tobacco farmers have sown a seed bed area enough to cover over 34 400 hectares for the 2017 /18 cropping season, as communal and A1 farmers continue to join the sector due to lucrative prices and an o...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zimra launches blitz on traders

THE Zimbabwe Revenue Authority (Zimra) has launched a massive blitz targeting all traders who continue to dodge their tax obligations by not installing fiscal devices and connecting them to its server...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

RBZ mulls increasing gold producers funding

THE Reserve Bank of Zimbabwe is considering increasing funding support to small-scale producers beyond the $40 million initially allocated under the Gold Development Initiative for the miners owing to...

By Staff reporter | Published: 31 August 2017

LANDS & AGRICULTURE

Tobacco floors to decentralise

SEVERAL tobacco companies have expressed interest in setting up buying facilities outside Harare as authorities seek to decongest the existing auction floors.Tobacco Industry and Marketing Board chief...

By Staff reporter | Published: 31 August 2017

INDUSTRIALS & ENERGY

SPB intervenes in ZPC tender wrangle

THE Zimbabwe Power Company (ZPC) has sought permission from the State Procurement Board to cancel the $113 million contract for re-powering of Munyati Power Station awarded in 2015 to an Indian compan...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

Sunbird to invest $200m in ethanol plant

SUNBIRD Zimbabwe, owned by Sunbird Bioenergy Africa, is set to invest a total $200 million over three years in a sustainable bio-ethanol cassava plant that will also produce power, executive chairman ...

By Staff reporter | Published: 31 August 2017

TELECOMS & TECHNOLOGY

TelOne rewards whistle-blowers

In a drive to fight crime and vandalism, TelOne has initiated an anti-vandalism campaign to bring to an end theft of copper cables and telecommunications equipment.Since the beginning of the year, Tel...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zimbabwean elected Sadc industry body president

THE Mining Industry Association of Southern Africa (MIASA), an association of Chamber of Mines in the Sadc region has elected Chamber of Mines of Zimbabwe's chief executive Isaac Kwesu as president of...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

PSMAS in lifestyle programme drive

Zimbabwe's biggest healthcare funder by membership, Premier Service Medical Aid (PSMAS), has launched a lifestyle programme which it says will save the country up to $2 billion in health costs in the ...

By Staff reporter | Published: 31 August 2017

MINING & RETAIL

Hwange Colliery reduces coal prices

Zimbabwe's biggest coal miner, Hwange Colliery Company, has slashed prices in a bid to combat massive deforestation around the country. Prices have been slashed by eight percent from $65 to $59 per to...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Afreximbank facility to avert fuel prices

A $600 million nostro stabilization facility from Afreximbank will largely support fuel and electricity imports as well as critical government obligations, sources said this week. The development will...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Chinamasa disowns Meikles debt

GOVERNMENT has disowned Meikles Limited's $90 million claim over a two-decade old Reserve Bank of Zimbabwe (RBZ) debt and has made a counter demand, saying it had overpaid the hospitality and retail g...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zim steps up power import payments

THE Reserve Bank of Zimbabwe and ZESA Holdings have agreed that between $5 million and $10 million per week will be paid towards servicing debt arrears to South Africa's power utility, Eskom, and Hydr...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Zimra wants stiffer penalties for tax evaders

ZIMBABWE'S tax agency says it is lobbying for new legislation which will see tax evaders being handed stiffer penalties, as the country which solely relies on tax to fund its operations tries to shore...

By Staff reporter | Published: 31 August 2017

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